Crane NXT Enters Material Definitive Agreement
Ticker: CXT · Form: 8-K · Filed: Dec 11, 2024 · CIK: 25445
Sentiment: neutral
Topics: material-definitive-agreement, financial-obligation
TL;DR
Crane NXT just signed a big deal, expect financial moves.
AI Summary
On December 9, 2024, Crane NXT, Co. entered into a Material Definitive Agreement related to a financial obligation. The filing details the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement for the registrant. Specific details regarding the agreement, including dollar amounts and terms, are provided within the filing.
Why It Matters
This filing indicates a significant financial commitment or obligation for Crane NXT, Co., which could impact its financial structure and future operations.
Risk Assessment
Risk Level: medium — Entering into material definitive agreements and financial obligations can introduce financial risks and operational changes for the company.
Key Players & Entities
- Crane NXT, Co. (company) — Registrant
- December 9, 2024 (date) — Date of earliest event reported
- Delaware (jurisdiction) — State of incorporation
FAQ
What type of material definitive agreement did Crane NXT, Co. enter into?
The filing indicates the entry into a Material Definitive Agreement that involves the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement for the registrant.
What is the date of the earliest event reported in this 8-K filing?
The date of the earliest event reported is December 9, 2024.
What is the former name of Crane NXT, Co.?
The former name of Crane NXT, Co. was Crane Holdings, Co., with a name change date of May 27, 2022.
In which state is Crane NXT, Co. incorporated?
Crane NXT, Co. is incorporated in Delaware.
What is the IRS Employer Identification Number for Crane NXT, Co.?
The IRS Employer Identification Number for Crane NXT, Co. is 88-0706021.
Filing Stats: 820 words · 3 min read · ~3 pages · Grade level 12.1 · Accepted 2024-12-11 16:05:28
Key Financial Figures
- $1.00 — ich registered Common Stock, par value $1.00 CXT New York Stock Exchange Indicate
- $200,000,000 — an aggregate principal amount equal to $200,000,000 and (b) provide delayed draw term loan
- $700,000,000 — the Second Amendment Effective Date is $700,000,000. The delayed draw term loans will be ma
Filing Documents
- cxt-20241209.htm (8-K) — 35KB
- cranenxt-secondamendmentxc.htm (EX-10.1) — 1704KB
- image_0a.jpg (GRAPHIC) — 1KB
- 0000025445-24-000100.txt ( ) — 2130KB
- cxt-20241209.xsd (EX-101.SCH) — 2KB
- cxt-20241209_lab.xml (EX-101.LAB) — 21KB
- cxt-20241209_pre.xml (EX-101.PRE) — 12KB
- cxt-20241209_htm.xml (XML) — 3KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement. On December 9, 2024 (the "Second Amendment Effective Date"), Crane NXT, Co. (the "Company"), a Delaware corporation, entered into that certain Second Amendment (the "Second Amendment"), among the Company, as borrower, CA-MC Acquisition UK Limited, a private limited company incorporated under the laws of England and Wales with registered number 03878137 (the "UK Borrower"), a wholly-owned subsidiary of the Company, as a subsidiary borrower, the subsidiaries of the Company party thereto as guarantors, the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent. The Second Amendment amends the Company's existing credit agreement, dated as of March 17, 2023 (as amended by that certain First Amendment, dated as of February 29, 2024, and by the Second Amendment, the "Amended Credit Agreement"), to, among other things, (a) establish incremental revolving commitments in an aggregate principal amount equal to $200,000,000 and (b) provide delayed draw term loan commitments in an aggregate principal amount equal to 300,000,000. The aggregate principal amount of the lenders' revolving commitments under the Amended Credit Agreement as of the Second Amendment Effective Date is $700,000,000. The delayed draw term loans will be made available to fund, together with cash on hand, the previously announced acquisition of De La Rue plc's authentication division, De La Rue Authentication Solutions, subject to customary closing conditions including the closing of such acquisition. The foregoing description of the Second Amendment does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Second Amendment, a copy of which is filed as Exhibit 10.1 hereto and is incorporated into this Item 1.01 by reference. SECTION 2 – FINANCIAL INFORMATION Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registran
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description of Exhibit 10.1 Second Amendment, dated as of December 9, 2024, by and among Crane NXT, Co., a Delaware corporation, as borrower, CA-MC Acquisition UK Limited, a private limited company incorporated under the laws of England and Wales with registered number 03878137, the other loan parties party thereto, the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent. * 101 Cover Page Interactive Data File (embedded within the Inline XBRL document) * Schedules and exhibits have been omitted pursuant to Item 601(a)(5) of Regulation S-K. The Registrant agrees to furnish supplementally a copy of any omitted schedule or exhibit to the U.S. Securities and Exchange Commission upon request. 2
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CRANE NXT, CO. December 11, 2024 By: /s/ Paul G. Igoe Paul G. Igoe Senior Vice President, General Counsel and Secretary 3